Global Neem Extract Market – Overview
Global Neem Extract Market has witnessed an impressive growth over the last few years. Market Research Future, a firm which specializes in market reports related to the Food, Beverages Nutrition sector among others, recently forecasted in its report on global Neem Extract Market Research Report- Forecast to 2027 that the market will demonstrate an exceptional CAGR 5.8% while achieving million dollar growth readily in the forecast period.
Increasing awareness among people towards the adverse effects of chemical based personal care, the importance of neem based products have augmented to a considerable extent. About two decades ago, the ayurvedic medicines in India had been constantly losing its market to allopathic medicines. However, campaigns and advertisements by the domestic ayurvedic companies in the country, such as Patanjali, the ayurvedic medicines have started to rejuvenate. The medicinal benefits of neem are well known in Asia-Pacific and its awareness is percolating to other parts of the globe. With the passage of time, the western countries are increasingly turning towards herbal products for personal care. A large range of neem based cosmetic and personal care products including bathing soap, face cream, face wash and shampoos are now being used in the North American and European countries.
The bio-based animal farming has increased during the past few years owing to increasing demand for meat obtained from biologically grown animals. Neem leaves and neem seed cake are used as animal feed that contain proteins, amino acids, carotene and minerals. Animals such as camel, goat, sheep and crossbred lambs are fed with neem leaves during winters, a part of their daily feed, as they increase productivity of these animals during the season. Neem is also well known as an effective pest repellent for pet animals. The increasing population of pet animals globally and people’s growing concern for the safety of their pets has encouraged neem oil manufacturing.
Latest Industry Updates
Feb 2019 Oshea Herbals has launched neempure cleansing bar which is made with neem leaf extracts
May 2019 VLCC has introduced neem face wash owing to the high demand of herbal products
June 2019 Zillonlife Global Pvt. Ltd. has launched four new products with natural extracts including neem
Global Neem Extract Market - Competitive Analysis
Global Neem Extract Market is marked by high intensity of rivalry. The market players in the Global Neem Extract Market indulge in fierce rivalry where the market players are aggressively targeting its competitors in terms of quality and price, thus making the industry more competitive and reducing profit potential for the existing firms. Market players in global neem extract have excess production capacity and focus on strategic investments and RD along with participating in the various exhibitions and trade shows in order to enhance their customer base.
The key players profiled in neem extract are Neeming Australia Pty Ltd. (Australia), E.I.D. Parry Limited (India), Agro Extracts Limited (India), GreeNeem Agri Pvt Ltd (India), P.J. Margo Pvt. Ltd. (India), Bayer AG (Germany), Certis USA LLC (U.S.), and many more.
Global Neem Extract Market – Segments
Global Neem Extract Market has been divided into type, application, and Region
On the Basis of Type: Leaf extract, seed extract and others
On the Basis of Application: Pharmaceuticals, cosmetics personal care products, animal feed, chemicals fertilizers, pet food and others
On the Basis of Region: North America, Europe, Asia Pacific and Rest of the World
Global Neem Extract Market - Regional Analysis
Global Neem Extract Market is segmented by region which comprises of North America, Europe, Asia Pacific and Rest of the World. Among all the regions, Asia Pacific is accounting for significant market share in global Neem Extract Market and it is expected to retain its dominance throughout the forecast period of 2020-2027. The growth of the neem extract in Asia Pacific region is anticipated to be driven by the various factors. The demand for the neen extract in Asia Pacific is mainly driven by the rising production of medicinal extracts. Moreover, the demand of the herbal medicine is increasing at a high pace which in turn escalates the growth of the Organic Neem Extract Market in the Asia Pacific region. Many of the Asia-Pacific countries such as China, India, and Philippines use large amounts of bio-based fertilizers made from crop and animal waste which can be one of the significant factors for the rising growth of neem extract in the Asia Pacific region. Among the Asia Pacific countries, China India are collectively holding major market share in the Asia Pacific region.
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